Which of the following statements regarding limited partnerships is TRUE?
a. A general partner's liability is limited by the amount of their investment.
b. There is no limit on a limited partner's liability.
c. A limited partner is not liable until all the assets of the general partners have been exhausted.
d. A limited partner's liability is limited by the amount of their investment

Question

05-08-2019
Business

contestada

Which of the following statements regarding limited partnerships is TRUE?
a. A general partner's liability is limited by the amount of their investment.
b. There is no limit on a limited partner's liability.
c. A limited partner is not liable until all the assets of the general partners have been exhausted.
d. A limited partner's liability is limited by the amount of their investment

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isyllus isyllus · Answer 1 · 2019-08-08T11:36:05+02:00

Answer: The following statements regarding limited partnerships is true: A limited partner's liability is limited by the amount of their investment.

A Limited Partnership is a relationship existing of general partner, who manages the organization and has outright personal liability for the financial obligation of the Limited Partnership, and a limited partner, who has controlled financial obligation but cannot act in administration.

Therefore option (d) is correct.